Economists like Obama plan

Truthmatters

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Many economists say Obama jobs plan will help


That was the assessment Thursday night from economists, who offered mainly positive reviews of President Barack Obama's $447 billion plan to stimulate job creation.

Some predicted it would put hundreds of thousands of people back to work next year, mainly because a Social Security tax cut for workers would be deepened and extended to small businesses.



"Payroll tax cuts are very powerful," said Allen Sinai, chief economist of Decision Economics. "They provide a boost to direct income and, in turn, spending, which is important to growth."

Mark Zandi, chief economist at Moody's Analytics, estimated that the president's plan would boost economic growth by 2 percentage points, add 2 million jobs and reduce unemployment by a full percentage point next year compared with existing law.
 
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What will the right do with this information?
 
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Just more educated people for you to spew hate at huh?
 

FireFly

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TEA Party Eric Cantor says he is willing to work with the president to implement most of this plan.
 

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Many economists say Obama jobs plan will help


That was the assessment Thursday night from economists, who offered mainly positive reviews of President Barack Obama's $447 billion plan to stimulate job creation.

Some predicted it would put hundreds of thousands of people back to work next year, mainly because a Social Security tax cut for workers would be deepened and extended to small businesses.



"Payroll tax cuts are very powerful," said Allen Sinai, chief economist of Decision Economics. "They provide a boost to direct income and, in turn, spending, which is important to growth."

Mark Zandi, chief economist at Moody's Analytics, estimated that the president's plan would boost economic growth by 2 percentage points, add 2 million jobs and reduce unemployment by a full percentage point next year compared with existing law.
how many economists?
link to the specific economist opinions?

Isn't that what they said about the Crapulus bill? You know, the one that left the unemployment rate up at 9.1%?
 

Wiseacre

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From your link:

" Some economists cautioned that some factors might blunt the impact of Obama's enlarged Social Security tax cut. For one thing, the tax cut would deliver only a temporary boost. It would expire at the end of 2012. Most economists foresee unemployment remaining high well after next year.

And Michael Mandel, chief economic strategist for the Progressive Policy Institute, suggested that the link between consumer spending and job creation is weaker in an economy like America's that's highly open to foreign goods.

Consumer spending accounts for about 70% of the economy.

"If the payroll tax cut encourages consumers to buy more (imported) clothing, that's likely to create more jobs overseas than in the U.S.," Mandel said.

In addition, Paul Ashworth, chief U.S. economist at Capital Economics, said many taxpayers might save the extra money from the tax cut rather than spend it. "


PS: Only a far left ideologue would suggest that Obama's Jobs Bill would boost GDP by 2 points, or add 1 million jobs, or lower the UE rate by a full %. What a tool.
 

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Obama’s Jobs Plan Won’t Work, Economists Say
“If we’re talking about whether the package is big enough to … start making a dent, it’s probably going to fall short of that goal,” said Gary Burtless, a labor economist at the Brookings Institution.
The simulative potential of the plan is hindered by another factor: A majority of the plan’s spending is needed just to continue current law — something that will provide no boost.

According to a draft proposal of the plan, $120 billion would be spent to extend the payroll tax cut that has boosted the size of workers’ paychecks this year. And $50 billion would be spent on unemployment insurance.

The expiration of those programs could slow the economy. But at the same time, their extension will not provide any additional stimulus.
THAT, is how you post, TM, you dick-drip. You find a source that actually quotes an economist, instead of just 'saying' what some said.
 

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Local economist says Obama's new jobs plan won't help
"We are really behind the eight ball in terms of job growth here," says Charlotte economist John Connaughton. " We have really not done as well as the nation."

Which is pretty disconcerting considering the nation is doing so poorly, all eyes will be on President Obama tomorrow night as he reveals a new plan to restart America's job engine. But Connaughton says don't get your hopes up - he doesn't think it'll help.

"I don't think another program which will be roughly half the size, actually less than half the size, is going to do much at this point," he says.
"What we need to be doing both nationally and on the state level is incentivizing private business to take risk," says Connaughton.
 

Wiseacre

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And something else: I'm tired of hearing we should spend 455 billion bucks right now without carefully determining how and where to spend it. Been there and done that with the 1st stimulus, anybody who is satisfied with the results we got from that is nuts.
 

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Obama Plan 'Probably Wouldn't Add Many Jobs,' Reports the AP

His new proposals, like spending more for transportation projects and cutting taxes for companies that hire the unemployed, probably wouldn't add many jobs, they say. Not soon, anyway.

"These are not bold, new, big programs," says Nariman Behravesh, chief economist with IHS Global Insight. "You put everything together, it's going to be pretty small."
 

Claudette

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Yeah but she's got two or three running right now.

Woman is nuts.
 

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TEA Party Eric Cantor says he is willing to work with the president to implement most of this plan.
Translation: "I will dictate to you, Mr. President, what parts of the plan are acceptable to me, and then I will refuse to negotiate past that, and when you complain, I'll tell my constituents you hate 'merica and I'll vote NO!"
 

OohPooPahDoo

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And something else: I'm tired of hearing we should spend 455 billion bucks right now without carefully determining how and where to spend it. Been there and done that with the 1st stimulus, anybody who is satisfied with the results we got from that is nuts.
I'm pretty satisfied with it. The University I work for is using stimulus funds to put in a high speed fiber optic network that is linked to numerous high performance computers around the state, creating employment and educational opportunities.
 

Mad Scientist

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Just more educated people for you to spew hate at huh?
Sorry but I didn't know "McPaper" (USA Today) was still in circulation!

Anyone read Al Newharths bio? He's the founder of USA Today. Anyway he wrote that when he was still in charge of the day to day business over there he would buy a paper at the newsstand so he could see how the paper looks to the average Joe.

Well one day he picked up that days paper and he was shocked at what he saw! On the cover was this beautiful cheerleader with enormous tits! He was so pissed off that he stormed into his office and immediately called a meeting of all who were responsible for that days edition.

When they had assembled in his office he asked who was responsible for that picture. One guy sheepishly raised his hand and expected the worst. "God Dammit!" Al thundered. "The next time you put a cheerleader on the cover make sure her tits are above the fold!"

Al wasn't angered that someone had put a big titty girl on the cover of his "serious" newspaper! Oh no! He was only upset that her tits were below the fold and weren't visible to the average person who walked by!

:lol: :lol: :lol: :lol: :lol:
 

FuelRod

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The devil is in the details. Will spending go to what was outlined in the speech?
Or be like the last one which paid for studies of gnat testes and the like?
 
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Many economists say Obama jobs plan will help


That was the assessment Thursday night from economists, who offered mainly positive reviews of President Barack Obama's $447 billion plan to stimulate job creation.

Some predicted it would put hundreds of thousands of people back to work next year, mainly because a Social Security tax cut for workers would be deepened and extended to small businesses.



"Payroll tax cuts are very powerful," said Allen Sinai, chief economist of Decision Economics. "They provide a boost to direct income and, in turn, spending, which is important to growth."

Mark Zandi, chief economist at Moody's Analytics, estimated that the president's plan would boost economic growth by 2 percentage points, add 2 million jobs and reduce unemployment by a full percentage point next year compared with existing law.
how many economists?
link to the specific economist opinions?

Isn't that what they said about the Crapulus bill? You know, the one that left the unemployment rate up at 9.1%?
Six. Well, some of them aren't technically Economists.

And one of those is from the (politically biased) Progressive Policy Institute.

And another one didn't exactly "like" the plan. In fact, he said
"In an environment where economic confidence has been almost completely destroyed, there is a risk that both households and small businesses will save a greater proportion of any windfall, particularly if they know the reduction is only temporary"
 

pgm

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I don't think I've ever seen a consensus from economists anyway. I'm sure the a lot of the liberals ones think this will work and a lot of the conservatives think it won't (with a few liberals who think it's too small). For what it's worth Paul Krugman was pleasantly surprised (he's been pretty down on the President lately).
 
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I don't think I've ever seen a consensus from economists anyway. I'm sure the a lot of the liberals ones think this will work and a lot of the conservatives think it won't (with a few liberals who think it's too small). For what it's worth Paul Krugman was pleasantly surprised (he's been pretty down on the President lately).
Krugman's opinion is worth jack shit.

If we want solid economic opinions, we should wait for the apolitical ones. I have no interest in what a liberal or conservative economist says.
 

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